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Hunt-Led Group Sues Texas Regulator Over Failed Oncor Buyout

  • Texas regulators accused of erring in setting merger terms
  • Hunt group withdrew bid for Oncor in May over state conditions
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Hunt Consolidated Inc. and a group of creditors that sought to buy Energy Future Holdings Corp.’s Oncor Electric Delivery Co. utility are suing Texas regulators who attached conditions to their merger that caused the deal to unravel.

In a lawsuit dated June 17, the Hunt-led group said the Public Utility Commission of Texas erred in setting conditions that may have required the buyers to share potential tax savings with the utility’s ratepayers. The would-be buyers are seeking to reverse the agency’s March 24 order, according to the suit, which was filed in Travis County, Texas, and served on the commission on Thursday.